This week’s Dune Digest dives into the latest signals across stablecoins, DEX growth, and wallet innovation—Gnosis Pay hits ATHs in usage and cashback, Unichain dominates Uniswap v4 volume, USDO doubles supply in a month, Ethereum’s EIP-7702 goes live with early adoption data, and Kaito reveals $72M+ in distributed rewards.

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Gnosis Pay reaches new ATH

Gnosis Pay hit new milestones last week, with over $2M in weekly volume—$1.8M in EUR and growing GBP and USDC use. Notably, USDC volume jumped from $1K to $3K in the last week of April, and to $13K in the first week of May, boosted by the Brazil launch. The platform also recorded a record 31.4K weekly payments by 3,500 users, alongside $38.2K in weekly cashback rewards. These gains point to growing adoption of Gnosis Pay as a crypto-native spending tool across currencies and geographies.

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Unichain Leads Uniswap v4 Volume

Since mid-April, Unichain has emerged as the leading chain for Uniswap v4 activity, now averaging $300M in daily volume—roughly double Ethereum’s—and accounting for over 60% of all v4 volume. It also flipped Base in total swaps at the end of April, climbing from 11% market share last month to 30% now, with Base at 22%. Propelled by a strong liquidity incentive campaign, Unichain’s rise suggests the strategic value of Uniswap is finally playing out as a growth driver for the chain.

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OpenEden USDO double supply in 1 month

Ouroboros Research shows that OpenEden’s yield-bearing stablecoin USDO has surged past $200M in supply this week—growing $45M in two days and reaching $204M, with $201M on Ethereum and the remainder on Base. The milestone comes less than a month after USDO first crossed the $100M mark, highlighting accelerating adoption. Backed 1:1 by U.S. Treasury Bills and reverse repos, USDO offers daily rebasing yield without staking. Its rapid growth reflects rising appetite for stable, compliant yield at the intersection of TradFi and DeFi.

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The First EIP-7702 Data Is In

Ethereum’s Pectra upgrade went live this week, implementing EIP-7702—a major milestone for account abstraction. The new standard lets users temporarily extend their existing EOAs with smart contract functionality, unlocking features like gasless transactions, transaction batching, and programmable recovery. According to Entropy Advisors, over 3,500 authorizations have already been made. WhiteBIT leads as top delegated contract with 55%, followed by OKX Wallet (27.7%), MetaMask (7.9%), and Ambire, one of the first wallet to support the new standard. The hybrid model blends EOA simplicity with smart account flexibility, pushing smart wallet adoption and bringing Ethereum closer to mainstream-friendly experiences.

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Kaito distributes $70M

Kaito has added a new “Total Value Distributed (TVD)” section to its Dune dashboard, revealing that over $72M in rewards have been distributed across its ecosystem—excluding the $KAITO airdrop. These rewards—$30 million distributed on May 1st—span yappers, stakers, and holders, have been distributed in just five months after the launch of Yaps. The update offers a clearer view of the growing incentive landscape fueling user engagement on Kaito.

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Always do your own research.

Dune Digest is all about cutting through the noise and surfacing the most relevant on-chain trends. If you have insights, dashboards, or data-driven stories that belong in the Digest, drop your suggestions here.

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